The idea of moving out to a cheaper home is nothing new, but it’s becoming more common in Australia.
It can save you thousands of dollars over the long term, while still providing a lot of room for future generations.
But, as the cost of living continues to rise, more and more people are looking to move out to buy a house they can afford, or even move in with family.
In 2016, the average Australian paid $9,600 for a house, while the average house price in NSW rose from $1.6 million in 2017 to $1,734,000 in 2018.
Australia has a population of more than 1.1 billion, but its average house prices are growing, and it is a trend that will only continue to get worse.
The average price of a Sydney house rose to $4.7 million in 2018 from $3.4 million in 2015, and a Brisbane house rose from a record low of $1 million in 2016 to a record high of $3 million in 2019.
A study from the Australian Institute of Architects and Landscape Architects found that by 2030, house prices will be on average 2.7 per cent higher than they were in 2017.
And, while many Australians are living out of their car, the number of people renting is on the rise, and many have the option of buying a property, rather than renting.
“The rental market is a very competitive one and the market has evolved from where it was in the 1990s,” said Mark Pomerantz, from property management firm Lender.
For many Australians, moving out would not only save money, but help create jobs and a better future for their families.
“We are seeing a lot more people choosing to rent, because the average rent in Australia is going up at a rate of $2,500 a week,” he said.
Pomerantz said it was important for people to be aware of the options available to them.
He said while it would not always be cheaper to buy, it would save them money in the long run.
With a house becoming more affordable, people are choosing to buy rather than rent, and are becoming more educated about the benefits of buying.
“The average household in Australia pays $13,000 to $14,000 more per year for a standard standard property than they did five years ago, and the average rental payment is now $2.2 million a year, which is well below the peak of $4 million a decade ago,” he added.
“While the price of the average home in Sydney is now about $3,000 a week, it will be closer to $3 and $4 for some years to come.”
In the meantime, some people are finding it hard to find the time to move.
Liz Huggins, from Perth, found she was living in a rented house because of the cost.
She said she had been living in Sydney for three years and was struggling to make ends meet, but she had to do something to move away from the city.
Ms Huggens said she was looking to live in a less expensive area, but needed to find a new home because her property had grown too large.
Her property in the suburb of Northcote, where she has lived for the past two years, is one of the largest properties in Perth.
When Ms Huggis moved out in 2019, she said she could afford to pay $10,000 for the home, but the house had grown to about $5 million.
At the time, she was struggling with her rent and couldn’t afford to live there anymore.
Now, Ms Hoggins is renting the house for $2 million per year.
Despite being able to buy the property, Ms Guggins said it would be tough for her to move from her current property.
”It’s not just about saving money; it’s about being able move out, I want to be able to live independently and I want a home that’s not too far away,” she said.
“My parents’ house is in the suburbs so it’s not really as far away.
I think it’s something I need to work out on the lease.”
Ms Guggens is living on her own for the first time, and said she wanted to do what she could to get her parents back.
“[I want] them to be happy with me moving in, but not have to do it myself, I just need to do that for myself,” she told the ABC.”
That’s my biggest fear is not having to pay rent again.
I don’t want to have to work nights and weekends to pay for it.
“The cost of renting has also become an issue in the recent housing affordability debate.
While housing affordability is a serious issue, many people who rent are concerned they are living in the wrong place.
Many people also fear the changes in